CA Yogesh S. Limaye

Plain Language Drafting – Need of Hour

Corporate Law - In general, it is observed that many laws are written, arranged and designed in a way that makes them hard for common man to understand. The same is true for various contracts which are used in day to day life e.g. insurance contracts. USA Government has passed a law namely the Plain Writing Act of […]...

Read More

Formula One…Whats the Game?

Corporate Law - You would be aware that, recently Supreme Court upheld the decision of Delhi High Court in the case of Fomrula One that it does have Permanent Establishment [PE] in India....

Read More

ICDS Permanent Solution to nullify SC Decisions ?

Corporate Law - A reader should be able to come to his / her own conclusion by applying the legislative enactments and judicial pronouncements to the facts of the case. While re-producing any portion of legislative enactment or judicial pronouncement, it is para phrased and emphasis is supplied by way of underline....

Read More

Sec 269ST– Cash receipt– danger ahead

Corporate Law - Section 269ST as being proposed in the budget 2017, makes acceptance of Rs. 3,00,000/- in cash as an offence. There are no caveats like it is applicable only for business receipt etc....

Read More

Relief by Bombay HC for Joint Development Agreement (JDA)

Corporate Law - In this very case, the date on which the developer obtained a commencement certificate is not within the accounting year ending 31st March, 1996. At the same time, if one reads the contract as a whole, it is clear that a dichotomy is contemplated between limited Power of Attorney authorising the developer to deal with the property vide pa...

Read More
Sorry No Post Found

Tax planning opportunity by SC?

CIT Vs. M/s Modipon Ltd. (Supreme Court of India) - The decision relates to deductibility of excise duty u/s 43B of the Income Tax Act, 1961. Section 43-B requires cumulative existence of following; The deduction claimed by the Assessee must be otherwise allowable under the other provisions of the Act....

Read More

May be Right Thing done in Wrong Manner

Mayurbhai Mangaldas Patel Vs. Income Tax Officer (ITAT Ahemdabad) - Background It is a matter relating to validity of re-opening of assessment on a technical ground in the case of Mayurbhai Mangaldas Patel v ITO. The learned Ahemdabad ITAT Bench has noted all the facts and circumstances of the case and the law as applicable in very clear manner. It has kept some iss...

Read More

ITAT – taking virtual reality a bit too seriously ?

ABB FZ - LLC, Bangalore Vs. Dy.DIT, Bangalore (ITAT Bangalore) - A reader should be able to come to his / her own conclusion by applying the legislative enactments and judicial pronouncements to the facts of the case. While re-producing any portion of legislative enactment or judicial pronouncement, it is para phrased and emphasis is supplied by way of underline....

Read More

Relief – Fees u/s 234E for late filing of TDS return

Gajanan Constructions, Prop. Gorakhnath Katkar v DCIT, CPC (TDS) [ITAT Pune] - The power to charge fees under the provisions of section 234E of the Act while processing the TDS statements, was dwelled upon by the Legislature by way of insertion of clause (c) to section 200A(1) of the Act by the Finance Act, 2015 w.e.f. 01.06.2015. Accordingly, we hold that where the Assessing ...

Read More

Interest free loan to AE – Crime?

Instrumentarium Corporation Limited, Finland Vs. Assistant Director of Income Tax International Taxation (ITAT Kolkata) - The critical question before special bench: Whether, on the facts and in the circumstances of the case, no arm’s length rate of interest was required to be charged on the loan granted by the non-resident assessee-company to its wholly owned subsidiary Indian company M/s. Datex-Ohmeda (India) Pvt. ...

Read More
Sorry No Post Found

Recent Posts in "CA Yogesh S. Limaye"

Plain Language Drafting – Need of Hour

In general, it is observed that many laws are written, arranged and designed in a way that makes them hard for common man to understand. The same is true for various contracts which are used in day to day life e.g. insurance contracts. USA Government has passed a law namely the Plain Writing Act of […]...

Read More
Posted Under: Income Tax |

Tax planning opportunity by SC?

CIT Vs. M/s Modipon Ltd. (Supreme Court of India)

The decision relates to deductibility of excise duty u/s 43B of the Income Tax Act, 1961. Section 43-B requires cumulative existence of following; The deduction claimed by the Assessee must be otherwise allowable under the other provisions of the Act....

Read More
Posted Under: Income Tax |

May be Right Thing done in Wrong Manner

Mayurbhai Mangaldas Patel Vs. Income Tax Officer (ITAT Ahemdabad)

Background It is a matter relating to validity of re-opening of assessment on a technical ground in the case of Mayurbhai Mangaldas Patel v ITO. The learned Ahemdabad ITAT Bench has noted all the facts and circumstances of the case and the law as applicable in very clear manner. It has kept some issues open […]...

Read More
Posted Under: Income Tax |

ITAT – taking virtual reality a bit too seriously ?

ABB FZ - LLC, Bangalore Vs. Dy.DIT, Bangalore (ITAT Bangalore)

A reader should be able to come to his / her own conclusion by applying the legislative enactments and judicial pronouncements to the facts of the case. While re-producing any portion of legislative enactment or judicial pronouncement, it is para phrased and emphasis is supplied by way of underline....

Read More

Formula One…Whats the Game?

You would be aware that, recently Supreme Court upheld the decision of Delhi High Court in the case of Fomrula One that it does have Permanent Establishment [PE] in India....

Read More
Posted Under: Income Tax |

ICDS Permanent Solution to nullify SC Decisions ?

A reader should be able to come to his / her own conclusion by applying the legislative enactments and judicial pronouncements to the facts of the case. While re-producing any portion of legislative enactment or judicial pronouncement, it is para phrased and emphasis is supplied by way of underline....

Read More
Posted Under: Income Tax |

Sec 269ST– Cash receipt– danger ahead

Section 269ST as being proposed in the budget 2017, makes acceptance of Rs. 3,00,000/- in cash as an offence. There are no caveats like it is applicable only for business receipt etc....

Read More
Posted Under: Income Tax |

Relief by Bombay HC for Joint Development Agreement (JDA)

In this very case, the date on which the developer obtained a commencement certificate is not within the accounting year ending 31st March, 1996. At the same time, if one reads the contract as a whole, it is clear that a dichotomy is contemplated between limited Power of Attorney authorising the developer to deal with the property vide pa...

Read More
Posted Under: Income Tax |

Ordinance Raj? Not Any More

Apex Judiciary has given a new year gift by pronouncing 2 important judgments, both by constitution bench of 7 members dated January 2, 2017. 1. Re-promulgation of ordinances is invalid and is fraud on constitution 2. A candidate can-not ask for votes in the name of religion, language, caste etc....

Read More
Posted Under: Income Tax |

Relief – Fees u/s 234E for late filing of TDS return

Gajanan Constructions, Prop. Gorakhnath Katkar v DCIT, CPC (TDS) [ITAT Pune]

The power to charge fees under the provisions of section 234E of the Act while processing the TDS statements, was dwelled upon by the Legislature by way of insertion of clause (c) to section 200A(1) of the Act by the Finance Act, 2015 w.e.f. 01.06.2015. Accordingly, we hold that where the Assessing Officer has processed the TDS statements...

Read More
Page 1 of 512345

Browse All Categories

CA, CS, CMA (3,599)
Company Law (3,635)
Custom Duty (6,780)
DGFT (3,553)
Excise Duty (4,086)
Fema / RBI (3,343)
Finance (3,589)
Income Tax (26,319)
SEBI (2,793)
Service Tax (3,304)

Search Posts by Date

February 2018
M T W T F S S
« Jan    
 1234
567891011
12131415161718
19202122232425
262728